Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CAPITOL HEIGHTS, MD-Ownership of the Coral Hills Shopping Center has changed hands in a recent deal valued at approximately $7 million. Plymouth Meeting, PA-based Kramont Realty Trust sold the 86,000-sf retail property to Fairfax, VA’s Mid Atlantic Real Estate Investment Inc. “The sale of this center follows our systematic plan to refine our asset base and high-grade the Kramont portfolio,” explains Kramont president and CEO Louis P. Meshon Sr. The shopping center REIT will see $1.1 million in net proceeds after the assumption of a $5.2 million debt and other fees associated with completing the transaction.

Developed in 1988, the single-story Coral Hills Shopping Center occupies a spot in the 4800 block of Marlboro Pike, just off I-295 in the Prince George’s County community of Coral Hills. A Shoppers Food Warehouse grocery store serves as the property’s anchor. County records list the shopping center’s current assessed value at $5 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.